MS HB1019

Creates the "Land Bank Act" to authorize counties and municipalities to establish land bank authorities to acquire, manage, and dispose of vacant, abandoned, or tax-foreclosed property to facilitate economic development and revitalization.

Land bank authorities may acquire property by gift, purchase, foreclosure, or transfer; hold property with or without clear title; and dispose of property to public or private entities, but cannot use eminent domain or assist with casino development.

Establishes an expedited confirm and quiet title procedure allowing authorities to file petitions in chancery court to vest clear title in the authority through a streamlined process with notice requirements and a 90-day hearing timeline.

Authorizes authorities to borrow money and issue bonds and notes with maturities up to 30 years, with optional tax pledges from participating municipalities or counties; exempts authority property, income, and bonds from state and local taxation.

Counties and municipalities may create individual or joint land bank authorities as public bodies corporate; authorities operate independently without local government approval for most powers and must adopt ethics codes and conflict-of-interest disclosure policies; effective July 1, 2025.